Memphis, Tennessee-based Premium Guard, Inc. has announced it has a $25 million agreement to purchase the property and other assets of Champion Laboratories, located in Albion in Edwards County in southeastern Illinois.
The deal comes after Champion closed its door abruptly in late February of 2026, following the bankruptcy of parent company First Brands Group. That move resulted in hundreds of local factory workers from throughout the area losing their jobs.
The acquisition is subject to bankruptcy court approval. The future fate of the Albion location is still unknown at this stage of the transaction. It was one of 17 facilities owned by First Brands across the U.S. to close with over 4,000 jobs lost nationwide.
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